GC Rieber Shipping: Update on business in Russia

GC Rieber Shipping: Update on business in Russia

29 Jun 2022 08:59 CEST

Reference is made to the stock exchange notice 23 March 2022 regarding GC Rieber
Shipping's exit from Russia.

GC Rieber Shipping has entered into a mutual agreement with its customer to
terminate the existing charterparty for its 50% owned ice-breaking tug Polar
Pevek with immediate effect. The vessel has left Russia, and the process of
changing ship manager and reorganizing the crew has started. The vessel will
shortly be available for new business opportunities outside Russia.

The crew transfer vessel Polar Piltun, 50% owned by GC Rieber Shipping, remains
in lay up in Russia.

GC Rieber Shipping's remaining activity in Russia is limited. GC Rieber Shipping
continue to work closely with its JV partners to identify options for the local
ship management company and its staff.

Contact information:

Einar Ytredal, CEO, GC Rieber Shipping, phone: +47 975 20 184

Christoffer Knudsen, CCO, GC Rieber Shipping, phone: +47 926 18 226

About GC Rieber Shipping:

GC Rieber Shipping is a shipowner and project-house with focus on developing
profitable and sustainable maritime projects.

Further information about the company, please go to www.gcrieber-shipping.com.

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site

Source

GC Rieber Shipping ASA

Provider

Oslo Børs Newspoint